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Staying on course with strategic metrics
Susanna E Krentz1, Aaron M DeBoer, Sasha N Preble
1Strategy Practice, Mitretek Healthcare, Chicago, USA. susie.krentz@mitretek.org
Summary
Healthcare providers must grasp different metric types and their effective application for strategic plan monitoring. Overcoming challenges involves clear communication, accountability, and stakeholder involvement for successful metric utilization.
Area of Science:
- Healthcare Management
- Performance Measurement
- Organizational Strategy
Background:
- Effective strategic plan implementation relies on robust performance metrics.
- Understanding metric types and their application is crucial for healthcare providers.
- Challenges exist in utilizing strategic metrics within healthcare organizations.
Purpose of the Study:
- To elucidate the importance and effective utilization of various metric types for healthcare providers.
- To guide providers in using strategic metrics for monitoring organizational strategic plans.
- To identify strategies for overcoming obstacles in the application of strategic metrics.
Main Methods:
- Review of existing literature on healthcare metrics and strategic management.
- Analysis of best practices in performance measurement and implementation.
- Synthesis of strategies for enhancing the use of strategic metrics.
Main Results:
- Healthcare providers need a comprehensive understanding of metric types and their significance.
- Strategic metrics are vital tools for monitoring the execution of an organization's strategic plan.
- Key strategies for successful metric use include clear communication of strategic intent, establishing accountability, and fostering buy-in through involvement.
Conclusions:
- Effective use of strategic metrics requires a multi-faceted approach.
- Clear communication, accountability, and stakeholder engagement are essential for overcoming barriers to metric utilization.
- Providers can enhance strategic plan implementation by mastering and applying strategic metrics effectively.
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